American Assets Trust (NYSE: AAT) chair adds 63K shares

Rhea-AI Filing Summary

American Assets Trust, Inc. (AAT) reported that Executive Chairman and ten percent owner Ernest S. Rady, through Ernest Rady Trust U/D/T March 10, 1983, purchased 63,586 shares of common stock in open-market or private transactions between August 17 and 19, 2026, at prices of $22.55–$22.77 per share. The filing also lists indirect holdings through several controlled entities and trusts, and direct holdings in an IRA, with Mr. Rady disclaiming beneficial ownership of those shares except to the extent of his pecuniary interest.

Insider Trade Summary

Net Buyer: 63,586 shares

Net Buy 9 txns

Insider RADY ERNEST S

Role Executive Chairman

Bought 63,586 shs ($1.44M)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.01 F1	10,000	$22.77	$228K
Purchase	Common Stock, par value $0.01 F1	3,586	$22.69	$81K
Purchase	Common Stock, par value $0.01 F1	50,000	$22.55	$1.13M
holding	Common Stock, par value $0.01 F2	--	--	--
holding	Common Stock, par value $0.01 F3	--	--	--
holding	Common Stock, par value $0.01 F4	--	--	--
holding	Common Stock, par value $0.01 F5	--	--	--
holding	Common Stock, par value $0.01 F6	--	--	--
holding	Common Stock, par value $0.01 F7	--	--	--

Holdings After Transaction: Common Stock, par value $0.01 — 8,866,117 shares (Indirect, By ERT); Common Stock, par value $0.01 — 2,267,022 shares (Indirect, By AAI); Common Stock, par value $0.01 — 1,275,336 shares (Indirect, By ICW); Common Stock, par value $0.01 — 1,209,021 shares (Indirect, By RF); Common Stock, par value $0.01 — 200,000 shares (Indirect, By EIC); Common Stock, par value $0.01 — 107,859 shares (Indirect, By ESRT); Common Stock, par value $0.01 — 66,680 shares (Direct)

Footnotes (7)

1. F1. Represents shares held by Ernest Rady Trust U/D/T March 10, 1983 ("ERT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
2. F2. Represents shares held by American Assets, Inc. ("AAI"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
3. F3. Represents shares held by Insurance Company of the West ("ICW"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
4. F4. Represents shares held by Rady Foundation ("RF"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
5. F5. Represents shares held by Explorer Insurance Company ("EIC"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
6. F6. Represents shares held by Evelyn Shirley Rady Trust U/D/T March 10, 1983 ("ESRT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
7. F7. Represents shares held by Ernest Rady IRA.

Key Figures

Shares purchased Aug 17, 2026: 50,000 shares at $22.55 per share Shares purchased Aug 18, 2026: 3,586 shares at $22.69 per share Shares purchased Aug 19, 2026: 10,000 shares at $22.77 per share +5 more

8 metrics

Shares purchased Aug 17, 2026 50,000 shares at $22.55 per share Indirect open-market or private purchase by Ernest Rady Trust U/D/T March 10, 1983

Shares purchased Aug 18, 2026 3,586 shares at $22.69 per share Indirect open-market or private purchase by Ernest Rady Trust U/D/T March 10, 1983

Shares purchased Aug 19, 2026 10,000 shares at $22.77 per share Indirect open-market or private purchase by Ernest Rady Trust U/D/T March 10, 1983

Total net shares bought 63,586 shares Net buy transactions reported for this Form 4

Indirect holding via AAI 2,267,022 shares Shares of AAT common stock held by American Assets, Inc.

Indirect holding via ICW 1,275,336 shares Shares of AAT common stock held by Insurance Company of the West

Indirect holding via Rady Foundation 1,209,021 shares Shares of AAT common stock held by Rady Foundation

Direct holding via IRA 66,680 shares Shares of AAT common stock held by Ernest Rady IRA

Key Terms

beneficial ownership, pecuniary interest, indirect ownership, open market or private transaction, +1 more

5 terms

beneficial ownership financial

"The Reporting Person disclaims beneficial ownership of such shares, except to the extent"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"except to the extent of his pecuniary interest therein"

indirect ownership financial

"Represents shares held by American Assets, Inc. ("AAI"), which is directly controlled"

open market or private transaction financial

"Purchase in open market or private transaction"

trustee financial

"for which the Reporting Person is the trustee"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

FAQ

What insider transactions did AAT Executive Chairman Ernest S. Rady report in this Form 4?

Ernest S. Rady reported purchases totaling 63,586 AAT shares of common stock on August 17–19, 2026, at per-share prices between $22.55 and $22.77. These purchases were made indirectly through the Ernest Rady Trust U/D/T March 10, 1983.

At what prices were the recently reported AAT (AAT) insider share purchases made?

The reported AAT purchases were made at $22.55, $22.69, and $22.77 per share. These prices correspond to three separate indirect open-market or private purchase transactions on August 17, 18, and 19, 2026, totaling 63,586 shares of common stock.

How many AAT shares were bought in each of Ernest S. Rady’s reported transactions?

The filing shows indirect purchases of 50,000 shares at $22.55, 3,586 shares at $22.69, and 10,000 shares at $22.77 per share. All transactions involve AAT common stock held by the Ernest Rady Trust U/D/T March 10, 1983.

What indirect AAT share holdings related to Ernest S. Rady are disclosed in this Form 4?

Indirect AAT holdings are reported as 2,267,022 shares by American Assets, Inc., 1,275,336 by Insurance Company of the West, 1,209,021 by Rady Foundation, 200,000 by Explorer Insurance Company, and 107,859 by Evelyn Shirley Rady Trust, each with a beneficial-ownership disclaimer.

Does Ernest S. Rady hold any AAT shares directly according to this filing?

Yes. The Form 4 reports 66,680 AAT shares held directly by Ernest Rady IRA. Other reported positions are held indirectly through various entities and trusts, for which he generally disclaims beneficial ownership beyond his pecuniary interest.

Were the AAT insider purchases made under a Rule 10b5-1 trading plan?

The filing indicates the Rule 10b5-1 checkbox is not marked as affirmative. The transactions are described as purchases in open market or private transactions, with no footnote stating that they were executed pursuant to a Rule 10b5-1 plan.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/19/2026 - 04:19 PM Accepted by SEC EDGAR 08/19/2026 - 04:18 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

RADY ERNEST S

(Last) (First) (Middle)

C/O AMERICAN ASSETS TRUST, INC.

3420 CARMEL MOUNTAIN ROAD, SUITE 100

(Street)

SAN DIEGO CALIFORNIA 92121

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
American Assets Trust, Inc. [ AAT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01	08/17/2026		P		50,000	A	$22.55	8,852,531	I	By ERT(1)
Common Stock, par value $0.01	08/18/2026		P		3,586	A	$22.69	8,856,117	I	By ERT(1)
Common Stock, par value $0.01	08/19/2026		P		10,000	A	$22.77	8,866,117	I	By ERT(1)
Common Stock, par value $0.01								2,267,022	I	By AAI(2)
Common Stock, par value $0.01								1,275,336	I	By ICW(3)
Common Stock, par value $0.01								1,209,021	I	By RF(4)
Common Stock, par value $0.01								200,000	I	By EIC(5)
Common Stock, par value $0.01								107,859	I	By ESRT(6)
Common Stock, par value $0.01								66,680	D(7)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares held by Ernest Rady Trust U/D/T March 10, 1983 ("ERT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

2. Represents shares held by American Assets, Inc. ("AAI"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

3. Represents shares held by Insurance Company of the West ("ICW"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

4. Represents shares held by Rady Foundation ("RF"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

5. Represents shares held by Explorer Insurance Company ("EIC"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

6. Represents shares held by Evelyn Shirley Rady Trust U/D/T March 10, 1983 ("ESRT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

7. Represents shares held by Ernest Rady IRA.

Remarks:

	/s/ Meleana Leaverton, Attorney-in-fact	08/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)